Preheat oven to 400 F. In a mixing bowl, blend cheese spread and margarine until light and fluffy. Add Tabasco and Worcestershire sauce. Mix well stirring in flour thoroughly.

Use about 1-½ teaspoons of dough per olive and shape dough around each olive. Place balls on ungreased baking sheet. Bake in 400 F oven for 12-15 minutes or until light brown. Serve hot or at room-temperature.